B&M's stringent rules force partner to quit Draxis board

Hoare, Steve
January 2005
Lawyer;1/17/2005, Vol. 19 Issue 2, p2
Trade Publication
The article reports that Baker & McKenzie partner Stewart Saxe has been forced to resign from his position on the board of Canadian pharmaceutical company Draxis Health Inc. after B&M tightened its corporate governance rules. Since long before most lawyers had even heard of messrs Sarbanes and Oxley, the firm has had a rule in place that required its lawyers to seek consent from the firm's professional responsibility and practice committee in order to sit on the board of a for-profit company. Now that rule has hardened and directorships are no longer tolerated.


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